Interesting system. I came up with a similar one by using a separate instance of Cramming for each "spell slot." I like many of the aspects of your system, to include Intelligence limiting the power of the spell being cast. Nicely formatted document too.
This is a great breakdown of the character creation process with just the right dash of combat in there. My only suggestion would be to have some sort of "five room dungeon" scenario to build upon the very solid rules foundation. Great job at any rate.
This looks like an excellent resource for a Champions GM. For a Heroic level game, there are some basic breakdowns missing. That said, I would recommend it for use at a convention or introductory game.